Market Overview

Unusual Option Activity on Quad Witching


The market overall is trading up, with the momentum from QE3 outweighing the continuing weakness in the transportation average. Some notable activity today:

WMS Industries (NYSE: WMS) October 17.5 calls have changed hands 1500 times so far. The stock has been retracing its earnings gap down from 18.25 to about 14. The high for the stock this year is 24.25.

Endeavour International (NYSE: END) October 10 calls have traded 2000 contracts against an open interest of 271, pushing implied volatility up 3 percent.END has international operations in the oil and gas industry and has been a rumored takeover candidate.

MIPS Technologies (NASDAQ: MIPS) Has had high activity in the out of the money calls. Today its October 9 calls on volume of 2206 contracts. One day ago MIPS was the subject of a BSN article saying that a takeover of MIPS is the worst kept secret on Wall Street.

Auxilium Pharma (NASDAQ: AUXL) Traded 1988 October 27.50 calls already versus an open interest of 17, pushing implied volatility up to 48 from 43. The stock has sold off from it's July high of about $28.

Posted-In: Options Markets Trading Ideas


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